Summary by Moomoo AI
Bitfarms Ltd., a cryptocurrency mining company, has announced its plans to acquire Stronghold Digital Mining, Inc. through a proposed merger. The transaction is contingent upon the approval of Stronghold's shareholders and the receipt of all necessary regulatory approvals. The merger aims to enhance Bitfarms' electrical power access, increase its energy portfolio to 950 MW by the end of 2025, and expand its capacity up to 1.6 GW. Bitfarms anticipates that the merger will allow it to achieve a target hashrate of 10 EH/s for the Stronghold business by 2025. The company also expects to leverage its expertise to improve energy efficiency and hashrate, as well as to integrate high-performance computing (HPC) and artificial intelligence (AI) with Bitcoin mining operations. The forward-looking...Show More